1. 02-11-14 11:26 AM #1
    SamDiamond
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    Mt. Gox halts all Bitcoin withdrawls



    http://www.latimes.com/business/hilt...#axzz2sz691774
    The bitcoin faithful would like you to believe that the virtual currency's recent price swings result solely from the crisis at Mt. Gox, a leading bitcoin exchange firm headquartered in Tokyo.
    Don't believe it: The Mt. Gox affair is a symptom, not a cause, of deep-seated problems in the bitcoin system. It's a sign that bitcoins aren't ready to serve as anything but pieces in a very risky, speculative game.
    Or as Boston University finance expert Mark T. Williams told state regulators in New York last month, "Bitcoin is an experiment that needs to remain in the laboratory until it can meet the basic standards required to become a beneficial transaction currency."


    To recap, Mt. Gox, which at one time was the world's largest bitcoin exchange, announced last week that it was suspending all bitcoin withdrawals for "technical" reasons. That meant if you had an account, or "wallet," at Mt. Gox, your money in bitcoins was frozen--you couldn't transfer them to a bitcoin account elsewhere. In an update Monday, the firm said it would resume withdrawals once the technical issue has been "properly addressed." But it didn't offer a time frame.


    The Mt. Gox freeze sent bitcoin prices on a dizzying plunge of 13% to 30%, depending on which service you follow for price quotes. On Bitstamp, bitcoins were quoted at $790 just before the Mt. Gox announcement and $619 just after, a fall of more than 20%. As I type these words, the quote is $674. Back in December, bitcoins were quoted as high as $1,200, a price bitcoin fanciers used as evidence that their pet currency was here to stay.



    http://www.latimes.com/business/hilt...#ixzz2t2G4he9P
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  2. 02-11-14 11:31 AM #2
    SamDiamond
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    This is what the price chart of Bitcoin looks like right now..

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  3. 02-11-14 11:42 AM #3
    SamDiamond
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    http://www.zerohedge.com/news/2014-0...ops-80-seconds

    It took exactly 1 minute and 20 seconds to crash Bitcoin.

    80 fuking seconds.

    Now that Bitcoin exchange Mt.Gox has terminally discredited itself following the     latest, and likely last, withdrawal halt announced late yesterday which sent the value of Bitcoin tumbling by 75%, Bitcoin traders are left with just two exchange options on which to transact: BTC-e and Bitstamp. And for those using the former to buy and sell the virtual digital currency, things went from bad to worse a few short hours ago, when Bitcoin had its very own "Waddell and Reed" moment, when the price of Bitcoin cratered by over 80% in the span of seconds, after a modest block of just under 6000 Bitcoins sent the price plunging from over $600 to $102.
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  4. 02-11-14 11:42 AM #4
    bigboydan
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    Quote Originally Posted by SamDiamond View Post
    This is what the price chart of Bitcoin looks like right now..

    Now that's what I call a real downer
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  5. 02-11-14 11:56 AM #5
    ACoochy
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    Don't ever change OP....
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  6. 02-11-14 12:01 PM #6
    bigboydan
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    Quote Originally Posted by ACoochy View Post
    Don't ever change OP....
    Like so many others here Opie is good people
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  7. 02-11-14 12:39 PM #7
    James D
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    One year ago today wasn't bitcoin 25 dollars? It's now, even after horrible news 675 dollars. Are there any other investments that have crashed to the tune of a 2600% annual return ?

    The fact is the people that got in early could cash out anytime and make a HUGE score. Congratulations to them all in my book, they were visionaries. I wish I was one of them, but I was not.
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  8. 02-11-14 12:55 PM #8
    brooks85
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    whichever keyser soze that invented this new-age ponzi scheme is deserves an applause. Truly genius.

    The interesting part is, the original group that was apart of the scam was out long, long before bitcoin reached 1200. By that point, any of the original scammers had sold long ago and nothing but sheer stupidity had driven the price to 1200.

    Basically, someone started a ponzi scheme, the price went up and the scammers sold long before 1200 and the idiot buyers actually turned the ponzi scheme into something more, or so they thought.
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  9. 02-11-14 01:06 PM #9
    muldoon
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    Funny how people who sat on the sidelines and didn't take a chance and profit, now sit breathlessly hoping for bitcoin to fail.

    Wake me when an exchange fails, or a major theft occurs and those on the short end get bailed out by the taxpayers.
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  10. 02-11-14 01:07 PM #10
    PaperTrail07
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    I was early on it....but was always in a out w payments....never left anything in it or used it as an investment...wish I had ...no joke...CRASHED at a 2600% return LMAO.....ill crash all day
    Quote Originally Posted by James D View Post
    One year ago today wasn't bitcoin 25 dollars? It's now, even after horrible news 675 dollars. Are there any other investments that have crashed to the tune of a 2600% annual return ?

    The fact is the people that got in early could cash out anytime and make a HUGE score. Congratulations to them all in my book, they were visionaries. I wish I was one of them, but I was not.
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  11. 02-11-14 01:13 PM #11
    brooks85
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    Quote Originally Posted by muldoon View Post
    Funny how people who sat on the sidelines and didn't take a chance and profit, now sit breathlessly hoping waiting for bitcoin to fail.

    Wake me when an exchange fails, or a major theft occurs and those on the short end get bailed out by the taxpayers.
    Wrong word, fixed it for ya tho.

    Anyone with above average intelligence, in other words not many, knew this was coming. Just like the sun is going to rise tomorrow. That's how obvious it was so if you didn't recognize this, one should be worried about their intelligence.
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  12. 02-11-14 04:49 PM #12
    ACoochy
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    Quote Originally Posted by brooks85 View Post
    Wrong word, fixed it for ya tho.

    Anyone with above average intelligence, in other words not many, knew this was coming. Just like the sun is going to rise tomorrow. That's how obvious it was so if you didn't recognize this, one should be worried about their intelligence.
    15 trillion in the hole and this joker's ragging on something he knows even less about

    Hey dipshit, bitcoin is a global currency, not just confined to you narrowminded folks down in the states...

    Now be a good puppet and pull out that list of liberalites you so seem happy to show everybody...

    What a joke...
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  13. 02-11-14 05:53 PM #13
    The Kraken
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    Is this a good time for me to start mining BTC?
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  14. 02-11-14 05:56 PM #14
    RonPaul2008
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    Quote Originally Posted by SamDiamond View Post
    This is what the price chart of Bitcoin looks like right now..

    What does the price chart for the last year look like?
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  15. 02-11-14 05:58 PM #15
    muldoon
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    Quote Originally Posted by The Kraken View Post
    Is this a good time for me to start mining BTC?
    Not really. The difficulty level is still not worth it unless you have a room full of rigs.
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  16. 02-11-14 06:00 PM #16
    muldoon
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    Quote Originally Posted by RonPaul2008 View Post
    What does the price chart for the last year look like?
    Name: bc.jpg Views: 162 Size: 13.1 KB
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  17. 02-11-14 06:34 PM #17
    The Kraken
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    Quote Originally Posted by muldoon View Post
    Not really. The difficulty level is still not worth it unless you have a room full of rigs.
    Don't have that. Looked at the 3th Miner last night, 10k! I have a new apple but am computer illiterate.

    Thx for the advice
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  18. 02-11-14 06:36 PM #18
    bigboydan
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    Quote Originally Posted by The Kraken View Post
    Don't have that. Looked at the 3th Miner last night, 10k! I have a new apple but am computer illiterate.

    Thx for the advice
    Kraken = chi-archie = AAO = RougeJuror :
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  19. 02-11-14 06:40 PM #19
    SBR_John
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    http://bitcoincharts.com/markets/mtgoxUSD.html

    Lot of bids. Scroll to the bottom. Of course bids can vanish.
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  20. 02-11-14 06:47 PM #20
    bigboydan
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    I sure wouldn't touch any Bitcoin knowing this to be 100% fact ! :

    Yesterday 11:37 AM #61
    SamDiamond
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    Quote Originally Posted by bigboydan View Post
    Thanks yet again for admitting you hacked into my stuff but more importantly that makes you a guilty as charged... Hell, when you seen me doing nothing wrong and you still continued to do it only means your the dumbest Mofo alive or your a fed !
    Okay.

    As required by law, I had to admit I am a Fed.

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  21. 02-11-14 06:59 PM #21
    ACoochy
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    Quote Originally Posted by SBR_John View Post
    http://bitcoincharts.com/markets/mtgoxUSD.html

    Lot of bids. Scroll to the bottom. Of course bids can vanish.
    Moving on from Gox is the best thing that could happen for the future growth of btc imo as it's super slow and frustratingly inefficient.

    Put it this way, if Gox were a traditional money market it would've been put out of commission decades ago...

    Need this gone to truly move forward. Then watch the price. ..
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  22. 02-11-14 06:59 PM #22
    SBR_John
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    Quote Originally Posted by bigboydan View Post
    I sure wouldn't touch any Bitcoin knowing this to be 100% fact ! :
    What does someone screwing around with your head have anything to do with buying Bitcoins? It's a rhetorical question.

    I sold wayyyy to early last time around. Pretty nervous to step up at $577.
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  23. 02-11-14 07:01 PM #23
    bigboydan
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    Quote Originally Posted by SBR_John View Post
    What does someone screwing around with your head have anything to do with buying Bitcoins? It's a rhetorical question.

    I sold wayyyy to early last time around. Pretty nervous to step up at $577.
    Nervous hell I'd be terrified !
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  24. 02-11-14 07:14 PM #24
    ACoochy
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    Quote Originally Posted by SBR_John View Post
    What does someone screwing around with your head have anything to do with buying Bitcoins? It's a rhetorical question.

    I sold wayyyy to early last time around. Pretty nervous to step up at $577.
    Dont be.

    Got in at 602 a few weeks back and sold for 896 within 96 hours. Make those profits Johnnie...

    $600 seems to be the magic 'buyin' number for a while now...
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  25. 02-11-14 07:56 PM #25
    James D
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    The fact is bitcoin has been remarkably resilient. The Chinese take shots at it every few months. Some shady sites selling illegal stuff get shutdown, even this current, heads of exchanges get arrested and now the Mt. Gox issue. despite all this bitcoin still up 2500% in 12 months .

    Lets not forget less then three years ago a bitcoin was under 30 cents.
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  26. 02-11-14 08:05 PM #26
    MagicDiceFlow
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    Even if Bitcoin went to $100 , that's still up thousands of percentage ....far from crashing.

    $600 current price is far from crashing and I guarantee it is not falling below $100 anytime in the next coming year.

    All the people that over sensitize it by claiming it's "crashing" are people that never got into it and just jealous.
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  27. 02-11-14 08:08 PM #27
    bigboydan
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    No way I'd buy in at this time knowing what's coming !
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  28. 02-11-14 08:47 PM #28
    ACoochy
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    Just wanted to thank OP and other contributors in this thread for making want to get back into btc.

    Bought in this morning in the 605 zone and already up 10% on market. Hope fully pull out in coming days for a projected 40-45% ROI.

    Hopefully...
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  29. 02-11-14 08:53 PM #29
    ACoochy
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    Moral of this thread: Do not let those wearing cement boots slow you down.

    Sammy, time to start re organizing your life pall cos your losing out here BIG!!!
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  30. 02-11-14 09:19 PM #30
    MagicDiceFlow
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    90% of people that claim Bitcoin is crashing dont even know what a bitcoin is.

    I'll let them keep standing on the sidelines while I buy/sell on dips and about to triple my investment in less than a month. I love this volatility that the news media gives it. Makes my work a lot easier.
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  31. 02-11-14 09:23 PM #31
    Boner_18
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    There are no documented btc hundred thousandares or better. They dont exist. Real market makers are documented winners. Only people gettin rich on btc are the exchanges.
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  32. 02-11-14 09:29 PM #32
    muldoon
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    Quote Originally Posted by Boner_18 View Post
    There are no documented btc hundred thousandares or better. They dont exist.
    Jered Kenna
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